As promised, please find all the latest news from me re the Portugal Golden Visa program.
Please don’t hesitate to ask if any questions and I’ll always reply as soon as possible.
Time required for Citizenship reduced – Portugal Golden Visa – New LawPassed March 2024
A huge sigh of relief for both new and existing applications, with the time to achieve citizenship officially reduced by 12-18 months. The Portuguese Government has now formally passed the amendment, meaning the “5-year clock” now starts ticking from the application stage instead of the visa issue date. Great news!
Increased demand for direct share capitalinstead ofinvestment funds
Both routes provide the investment structure required, to successfully qualify for the visa, however the deciding factor isoften the investment returns and security of capital.For certain nationalities, investing via regulated funds can bechallengingfor tax reporting and restrictions in their home country. The route via investment into share capital often circumnavigates these hurdles and in turn, we have seen more requests for investments of this nature.
Often, the underlying asset(s) that drive the returns remains the same, however the structure of the investment can be to the client’s preference and personal circumstances.
Golden Visa for100,000 EUR less
With clever investment structuring, many of our clients are opting to invest with lowered initial investment capital of 400,000 EUR, agreeing to a straightforward exit of 500,000 EUR when receiving their passports.
Clients can also qualify with as little as 350,000 EUR of investment capital;the incentives and returns vary between providers.
The Hospitality sector in PortugalPortugal’s hospitality market contributes over 40 billion Euros to the economy, almost 16% of GDP. Naturally, this sector offers profitable ventures, via various investment structures. The limited number of which that support the creation of jobs here and fortunate enough to make our shortlist, offer a predetermined exit, removing the risk of the investment value decreasing.
Furthermore, they are offered in a manner whereas the investor can receive future returns (as much as 150k EUR) as an upfront initial payment, to be used towards the 500k minimum. This allows our clients to sleep easy at night, to not worry about stock markets/property prices fluctuating,but also reducing the strain andpotential taxation of releasing the full 500k from other assets.
Qualifying options that offer this type of structuring are few and far between, but please let me know if you would like to be notified of such investment options that become available.To discuss and/or view the current options, you’re welcome schedule a meeting with me here – Calendar.
Increased demand for GV for US citizens using retirement accounts.
Following my announcement in February, US clients have doubled now being able to invest whilst keeping the funds within their retirement accounts for US tax purposes. As a reminder, it is a common problem for US clients to withdraw from retirement accounts without facing significant taxes and potential penalties if younger than 59.5.
We now provide this service dedicated to our US clients, already saving some more than 100,000 EUR.Although the process takes little longer,savings held within a 401k and IRA can be used without having to withdraw the capital.
The process is approved by the IRS and the local laws here in Portugal.
€500 towards your legal fees for sharing
For your friends who may also considering a move to Portugal, please share this information with them.
Both parties can receive a discount of €500 from your legal fees,as part of our send to a friend incentive. Just copy me into the email and I will make a note.
Register for March Webinar – Live Q&A
I’ll be covering all these topics and more during my live webinar tomorrow. You will also have chance to ask any questions at the end during a live Q&A. The event is complimentary, to receive the link just click below.
Portugal Golden Visa 2024 – Everything you need to know
Wednesday 20th March at 6.00pm Lisbon
If unable to make it for any reason, you’re welcome to schedule a personal discussion with me on Zoom. Please ask for next availability, alternatively you can choose a convenient time here.
I’ll continue to share important information with you this year to help keep you up to speed with any changes here in Portugal.
Please don’t hesitate to ask if you have any questions and I hope you found this update helpful.
I look forward to speaking with you soon.
